Post by samueldavidd109 on Feb 20, 2024 8:13:28 GMT 1
"Those of us who work at WPP are excited about the future, we do not feel the burden of the past." With these words, Mark Read spoke before WPP shareholders at his first annual general meeting as CEO of the British advertising holding company. Read shamelessly flattered the company he leads without ever mentioning his predecessor and mentor: Martin Sorrell. However, although no reference to Sorrell came from Read's lips, it is more than evident that the shadow of the former CEO of WPP continues to be extraordinarily long in the company whose designs he governed for more than three decades . After getting off the WPP ship, Sorrell gave birth to a new creature, S4 Capital , which he has nurtured in recent times with abundant staff from his former company (Scott Spirit, from the WPP orbit, being one of his latest signings). In his speech to the shareholders, Read wanted to emphasize the fabulous creativity born from the core of WPP , the strong investment in the company's talent and the group's effort to make things easier for its clients.
I firmly believe in the agencies attached to WPP,” Read stressed . “We need strong agencies, but we also need a strong WPP. “We need one thing as much as the other ,” she added. Before the shareholders, Read Denmark Telegram Number Data boasted that since last year he had opted for a “radical evolution” in relation to WPP's strategy , betting on the merger of different agencies for the sake of greater efficiency and raising the flag of commerce and technology. at a time when income from communication is not as flourishing as before. Red's goal is to metamorphose WPP into a “modern” and “contemporary” company that acts collaboratively (and as a mere amalgamation of different businesses). Very few dared mention his name, but Martin Sorrell was very present at the annual general meeting of WPP shareholders “When we look back in three years we will see a very different company than the one we saw six or twelve months earlier,” said Read.
At WPP's annual general meeting, no one brought up Martin Sorrell until a shareholder asked a question about the onerous bonuses that the company's former CEO still receives even though he left the company more than a year ago. Far from the marathon (and also volcanic) WPP annual general meetings were with Sorrell at the helm, the first one with Read as CEO lasted just 63 minutes. And it seems that shareholders generally left the meeting quite happy (perhaps because WPP shares have shown signs of improvement in recent months ). Denis Doble, a small shareholder of WPP , said in statements to Campaign that he was “reasonably happy” with the fact that the company had made the determination to keep dividends at stable levels instead of cutting them. Doble confessed that he missed Sorrell as a “showman” , although he admitted that WPP really needed a new leader. Liz Davies, another WPP shareholder, was, however, much less benevolent in her words towards the company's former CEO. Asked if she would invest in S4 Capital, Sorrell's new company, Davis could not laugh sardonically at such a (outrageous) suggestion and took the opportunity to put WPP's current problems on the shoulders of the former CEO of the British holding company.
I firmly believe in the agencies attached to WPP,” Read stressed . “We need strong agencies, but we also need a strong WPP. “We need one thing as much as the other ,” she added. Before the shareholders, Read Denmark Telegram Number Data boasted that since last year he had opted for a “radical evolution” in relation to WPP's strategy , betting on the merger of different agencies for the sake of greater efficiency and raising the flag of commerce and technology. at a time when income from communication is not as flourishing as before. Red's goal is to metamorphose WPP into a “modern” and “contemporary” company that acts collaboratively (and as a mere amalgamation of different businesses). Very few dared mention his name, but Martin Sorrell was very present at the annual general meeting of WPP shareholders “When we look back in three years we will see a very different company than the one we saw six or twelve months earlier,” said Read.
At WPP's annual general meeting, no one brought up Martin Sorrell until a shareholder asked a question about the onerous bonuses that the company's former CEO still receives even though he left the company more than a year ago. Far from the marathon (and also volcanic) WPP annual general meetings were with Sorrell at the helm, the first one with Read as CEO lasted just 63 minutes. And it seems that shareholders generally left the meeting quite happy (perhaps because WPP shares have shown signs of improvement in recent months ). Denis Doble, a small shareholder of WPP , said in statements to Campaign that he was “reasonably happy” with the fact that the company had made the determination to keep dividends at stable levels instead of cutting them. Doble confessed that he missed Sorrell as a “showman” , although he admitted that WPP really needed a new leader. Liz Davies, another WPP shareholder, was, however, much less benevolent in her words towards the company's former CEO. Asked if she would invest in S4 Capital, Sorrell's new company, Davis could not laugh sardonically at such a (outrageous) suggestion and took the opportunity to put WPP's current problems on the shoulders of the former CEO of the British holding company.